Sber and Eurasian Resources Group to collaborate on development of ESG standards for steel and mining

Jun 10, 2021

Sber and Eurasian Resources Group (ERG) have signed a memorandum indicating their intent to collaborate on the implementation of ESG principles, including the development of green finance instruments. Senior Vice President and Head of SberCIB Andrey Shemetov and Eurasian Resources Group CEO Benedikt Sobotka signed the agreement.

The parties plan to jointly develop ESG standards for the steel and mining sector, including goals and metrics, organize joint consultations, and implement ESG finance instruments for mining and metallurgy. The mutual cooperation will concern investment and export as well. ERG Group will receive consulting and information support from Sber in the analysis of environmental, social, and governance risks.

We have a longstanding and fruitful collaboration with ERG Group, one of the world's leading mining and smelting companies. This highly important sector of the company entails certain risks for the environment. That is why it is crucial for market players to apply ESG principles. We welcome ERG’s desire to develop in this area and, for our part, are prepared to facilitate environmental practices in the company by offering various green products and joint projects. I am certain that our work in this area will be a significant contribution to our companies’ achievement of sustainable development goals.

Andrey Shemetov

Senior Vice President, Head of SberCIB

We are pleased to continue our cooperation with Sber. ESG issues and facilitating the achievement of sustainable development goals have for many years been key areas of the Group’s activity. A responsible approach to green finance for investment projects is more relevant than ever today. Producing the materials of the future, such as cobalt, which is required for electric cars and gadgets, is important for the transition to a greener and lower carbon economy. This is part of the Group’s business philosophy and is at the core of our mission.

Adhering to high tech and environmental standards, we consider deepening our cooperation with the Sber team to be of great importance. Sber is a leader not only on the innovation market in Russia, but on the global level. This will allow us to implement ESG principles in the decision-making process even more rapidly and successfully when carrying out innovative projects in the regions in which the Group is present. We are certain that the new agreement with Sber will lead to significant progress in this area.

Benedikt Sobotka

CEO, Eurasian Resources Group